Flputnam Investment Management Co. Invests $219,000 in Hubbell Incorporated (NYSE:HUBB)

Flputnam Investment Management Co. purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 665 shares of the industrial products company’s stock, valued at approximately $219,000.

Several other institutional investors have also added to or reduced their stakes in HUBB. International Assets Investment Management LLC increased its holdings in shares of Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the period. Wellington Management Group LLP boosted its stake in shares of Hubbell by 133.8% in the first quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock valued at $283,646,000 after buying an additional 883,272 shares during the period. Norges Bank acquired a new stake in Hubbell during the fourth quarter worth approximately $90,375,000. Massachusetts Financial Services Co. MA increased its stake in Hubbell by 46.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after acquiring an additional 323,116 shares during the period. Finally, Morgan Stanley raised its holdings in Hubbell by 44.1% in the 4th quarter. Morgan Stanley now owns 597,030 shares of the industrial products company’s stock valued at $140,111,000 after acquiring an additional 182,790 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hubbell

In other news, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the transaction, the vice president now owns 3,646 shares in the company, valued at $1,286,090.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the sale, the chief executive officer now owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the transaction, the vice president now owns 3,646 shares in the company, valued at approximately $1,286,090.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,125 shares of company stock worth $12,065,100. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HUBB has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho upped their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Barclays increased their price target on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $383.57.

Hubbell Stock Up 0.4 %

Shares of HUBB opened at $392.45 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. Hubbell Incorporated has a 52 week low of $229.09 and a 52 week high of $429.61. The stock has a market capitalization of $21.05 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 2.41 and a beta of 0.94. The stock has a fifty day moving average of $390.63 and a 200-day moving average of $338.46.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.58 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $2.60 earnings per share. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s payout ratio is 34.73%.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.